yingli green energy hold-adr (YGE) Key Developments
Yingli Green Energy Holding Company Limited Announces Executive Changes
Dec 3 14
Yingli Green Energy Holding Company Limited announced that Mr. Zongwei Li has resigned from his position as executive director on the company's board of directors. Mr. Li joined the company as Chief Financial Officer in 2006, and currently serves as the company's Chief Strategy Officer. Mr. Yiyu Wang, the company's current Chief Financial Officer, will replace Mr. Li as an executive director on the company's board. These proposals have been unanimously approved by the board and are effective as of December 3, 2014.
Yingli Green Energy Holding Company Limited Reports Unaudited Consolidated Earnings Results for the Third Quarter Ended September 30, 2014; Revises Production Guidance for the Fiscal Year 2014; Provides Earnings Guidance for the Fourth Quarter of 2014
Nov 25 14
Yingli Green Energy Holding Company Limited reported unaudited consolidated earnings results for the third quarter ended September 30, 2014. For the quarter, the company reported total revenues of RMB 3,385.206 million compared to RMB 3,649.433 million a year ago. Income from operations was RMB 199.710 million compared to loss from operations of RMB 70.288 million a year ago. Loss before income taxes were RMB 119.118 million compared to RMB 254.281 million a year ago. Net loss was RMB 138.086 million compared to RMB 277.269 million a year ago. Net loss attributable to the company was RMB 122.847 million compared to RMB 235.590 million a year ago. Basic and diluted loss per share were RMB 0.68 compared to RMB 1.50 a year ago. Non-GAAP diluted loss per share was RMB 0.62 compared to RMB 1.45 a year ago. Diluted loss per share and per ADS was RMB 0.68 compared to RMB 1.50 a year ago. EBITDA was RMB 495.729 million compared to RMB 311.466 million a year ago. Operating cash flow inclusively was positive and that continuously improved since the beginning of 2013.
For the fourth quarter of 2014, the company expects gross margin will be in the range from 15% to 17%. For each of the breakdown of fourth quarter 2014, the company expects around 40% of the revenue will be coming from China.
Based on current market and operating conditions, estimated production capacity and forecasted customer demand, the company revises its current PV module shipment target to be in the estimated range of 3.30GW to 3.35GW (including 200 to 240MW shipment for PV systems) for fiscal year 2014, which represents an increase of 3.0% to 4.6% compared to fiscal year 2013.
Yingli Green Energy Holding Co. Ltd. Supplies 72 MW of Solar Panels to Solarcentury Holding Ltd
Nov 25 14
Yingli Green Energy Holding Company Limited announced that the company will supply 72 megawatts of multi- and monocrystalline solar panels to Solarcentury Holdings Ltd. In terms of the agreement between Yingli and Solarcentury, the company will complete the delivery of approximately 168,000 solar panels by the end of this year. The panels will be installed in projects across the UK. These projects will produce approximately 65,000 MWh of clean solar electricity per year, enough to supply around 21,800 typical UK homes.
Yingli Green Energy to Power Europe's Solar Plant
Nov 24 14
Yingli Green Energy Holding Company Limited announced that it has signed a agreement to supply 120 MW of YGE 72 Cell solar panels for a 300 MW project in France. Upon completion this will be the solar power park in Europe. According to the agreement, Yingli Solar will ship more than 393,000 multicrystalline panels between December 2014 and June 2015. The solar park located in Cestas in the South West of France, covering 250 hectares of land divided in 25 solar plants, is expected to be connected to the grid in October 2015. The EUR 360 million project is being developed by Neoen, a leading independent French power producer. For the engineering and construction, Neoen and the project's other investors contracted with a consortium of local companies, including Eiffage-Clemessy and Schneider Electric. Yingli Solar's high efficiency panels will comprise more than one third of the overall project. They will be mounted in an east-west orientation to boost the system's overall power density given their layout. The developer has worked hard on multiple system optimizations and plant design in order to increase the project's profitability and competitiveness. As a result, the plant will provide electricity at EUR 105 per MWh, which is below the price of the United Kingdom's new nuclear electricity, for example. By driving down the cost of solar electricity, the project clearly demonstrates the increasing competitiveness of solar PV against traditional energy sources.
Yingli Green Energy Holding Company Limited Ratifies Appointment of PricewaterhouseCoopers as Auditor
Nov 17 14
Yingli Green Energy Holding Company Limited at its annual general meeting held on November 17, 2014, ratified the appointment of PricewaterhouseCoopers as independent auditor.